Tuesday, March 31, 2020 / by Vanessa Saunders
March 31, 2020
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems
Every home owner pays property taxes on their home or commercial property. No one likes how much they're taxed. Even if you pay off your mortgage, taxes are still assessed. Along with death, they never go away. But there are some simple tricks home owners can use to lower the taxes they pay. Most involve lowering either the estimated value of the property, or lowering the tax rate.
Ask to see your property card.
Your town hall has tax cards for every home that is taxed by that municipality. This card includes information about the size of the lot, the precise dimensions of the rooms, and the number and type of fixtures located within the home. Other information may include a section on special features or notations about any improvements made to the existing structure.
Errors are not uncommon on tax cards, so as you review your card, note any discrepancies, and raise these issues with the t ...
Monday, June 10, 2019 / by Vanessa Saunders
If you are a “baby boomer” (born between 1946 and 1964), you may be thinking about selling your current home. Maybe your children have finally moved out. Your large, four-bedroom house with three bathrooms which used to fit the whole family no longer fits the bill. Taxes that have gotten too high already are rising again. Utilities are too expensive. Cleaning and repair are too just too much. You're ready to move into a home that better fits your current lifestyle. Many fellow boomers have already made the move you may be considering.
The National Association of Realtors recently released their 2019 Home Buyer and Seller Generational Report. The report revealed many interesting tidbits about both categories of baby boomers: younger boomers (ages 54 to 63) and older boomers (64 to 72). Here are a few of the more interesting topics.
Percentage of Buyers who Looked Online First
All Buyers: 44%
Younger Boomers: 46%
Older Boomers: 44%
Where Boomers Found the Home ...
Thursday, April 4, 2019 / by Vanessa Saunders
Most homeowners who haven't officially contested the assessed value of their home in the last few years are likely paying too much. Contesting (called "grieving") your property taxes takes a little time and some paperwork, but it's often worth it, especially if you are selling your home or feel your assessment is too high. Richard D. O'Donnell, a property tax consultant and former tax assessor for the Town of Eastchester, the Village of Tuckahoe, and the Town of Mount Pleasant recommends assessment grievance for owners of higher priced properties. "As the high end market is soft in many jurisdictions, property owners in this particular price category should consider filing”. O'Donnell, and his partner Michael Cullen offer tax grievance services for those who would like assistance in filing for a reduction in their property taxes.
For those who do wish to grieve their property assessments themselves, below are the basic steps in the process:
1. Find out if your assessmen ...
Friday, February 16, 2018 / by Vanessa Saunders
Any homeowner in New York state can lodge a formal complaint about their property taxes, to have their home's assessed value reduced for purposes of equitable taxation. It's called "grieving" property taxes. They can either do it themselves, or hire a professional tax attorney to do it and, if they get a lower rate, they usually charge just half of any savings the home owner realizes on the first year of taxation at the lower rate.
Why should we all grieve our taxes NOW?
New York has some of the highest property-taxed counties in the nation. A case in point is Westchester County, which according to a report from ATTOM Data Solutions, has the highest property taxes in the nation. Higher even than Beverly Hills county in California. These high taxes have the affect of driving away potential buyers of high-tax homes, who realize that high annual taxes on a property combined with high property values put it out of their financial reach. Sellers, in turn ...